Problem:
An investment project provides cash inflows of $570 per year for eight years. What is the project payback period if the initial cost is $1,675? What if the initial cost is $3,275? What if it is $4,800?
Required:
Question 1: What is the project payback period if the initial cost is $1,675?
Question 2: What is the project payback period if the initial cost is $3,275?
Question 3: What is the project payback period if the initial cost is $4,800?
Note: Please provide through step by step calculations.